Tessler Developments buys stake worth $77M in Cornell Realty Management, LIVWRK’s 200 Kent in Williamsburg

Tessler Developments through the entity 206 Kent Holdings LLC paid Cornell Realty Management, LIVWRK’s 206 Kent Investor II LLC for a stake valued at $77.3 million in 200 Kent Avenue in Williamsburg. The deal closed on February 10, 2020, and was recorded on February 18, 2020. The transaction consists of 1 parcel, including the tax class office building with commercial with one to six stories (O5). The under-construction project is about 110,000 square feet, with about 45,170 of that zoning square feet for the office and retail space. Most of the balance is parking space.

Asher Abehsera’s LIVWRK acquired an interest in the project in 2017, The Real Deal reported at the time.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $25,000.There has been one new building permit application totaling 45,170 square feet of zoning space.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link